Abacus Life, Inc. (NASDAQ:ABL – Get Free Report) was the recipient of a large increase in short interest in the month of January. As of January 15th, there was short interest totalling 686,900 shares, an increase of 37.9% from the December 31st total of 498,000 shares. Currently, 2.1% of the company’s shares are short sold. Based on an average daily volume of 224,500 shares, the short-interest ratio is presently 3.1 days.
Abacus Life Stock Up 1.4 %
NASDAQ:ABL opened at $7.89 on Friday. The firm has a market capitalization of $668.13 million, a P/E ratio of -43.83 and a beta of 0.14. Abacus Life has a 1-year low of $6.75 and a 1-year high of $13.25. The company’s fifty day moving average price is $7.72 and its 200-day moving average price is $8.97. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.29 and a quick ratio of 1.29.
Abacus Life (NASDAQ:ABL – Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. The firm had revenue of $28.15 million for the quarter, compared to analyst estimates of $26.08 million. Abacus Life had a negative net margin of 11.65% and a positive return on equity of 12.88%. During the same quarter in the prior year, the business earned $0.01 earnings per share. As a group, equities research analysts anticipate that Abacus Life will post 0.62 EPS for the current year.
Insider Buying and Selling
Institutional Trading of Abacus Life
A number of hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC purchased a new position in Abacus Life during the second quarter valued at $106,000. Geneos Wealth Management Inc. purchased a new position in Abacus Life during the fourth quarter valued at $110,000. Richard W. Paul & Associates LLC lifted its holdings in Abacus Life by 27.8% during the third quarter. Richard W. Paul & Associates LLC now owns 38,902 shares of the company’s stock valued at $394,000 after purchasing an additional 8,454 shares in the last quarter. Sei Investments Co. purchased a new position in Abacus Life during the second quarter valued at $418,000. Finally, Charles Schwab Investment Management Inc. purchased a new position in Abacus Life during the third quarter valued at $614,000.
Analyst Upgrades and Downgrades
ABL has been the subject of several recent analyst reports. Piper Sandler reiterated an “overweight” rating and set a $13.00 price objective (up previously from $12.00) on shares of Abacus Life in a research note on Friday, November 8th. Northland Capmk upgraded shares of Abacus Life to a “strong-buy” rating in a research note on Thursday, October 24th. B. Riley reduced their price objective on shares of Abacus Life from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Finally, Northland Securities began coverage on shares of Abacus Life in a research note on Thursday, October 24th. They set an “outperform” rating and a $13.50 price target on the stock. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $14.30.
Read Our Latest Research Report on ABL
Abacus Life Company Profile
Abacus Life, Inc operates as an alternative asset manager specializing in life insurance products. It purchases life insurance policies from consumers seeking liquidity and manages policies over time via trading, holding, and/or servicing. The company was founded in 2004 and is based in Orlando, Florida.
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